Considering Borderlands 2 still holds up as a masterpiece several years post-release, I'm pretty fuckin' hyped. Though, TPS wasn't very good in my opinion so who knows? But I'm choosing to be optimistic.

What changes or improvements do you want to see to the series? For me, I'm hoping for a character creation type deal. Make your own Vault Hunter OR choose from the traditional handful of new characters. Also, I think that dynamic storylines would be super neat for Borderlands. Like you would reach a point where you had to make a decision (for instance, kill someone or not kill someone) and the entire game's story and quests would change depending on what you choose. Similar to BioWare's RPGs like Mass Effect or KotOR where your choices directly impact the game's narrative. In a universe so interesting as Borderlands', I would love that so much.

Those options where you can alter the Storyline can make release last for so much longer. :d I'd like Character Customization, although it'd be too tricky. (What would their Action skill be?) It would be cool to see being able to pick from the existing cast, like a mix of 1 & 2, but I'm really more hyped for a whole next cast really. :d It would be cool though, if you have DLC Characters from the other games (Like Pre-squeal) you can use them in 3.

I heard that they might bring back some characters from the other games like Mordecai and Axton as playable Vault Hunters. I hope they decide to bring loveable NPCs back as playable characters.

I could see Mr Tourge, Moxxi, and Sir Hammerlock working as playable characters. Moxxi could passibly make player and friendly weapon damage heal all players and allies, Mister Tourge would make lots of shit explode, and Hammerlock could play a role in BL3 like Mordecai and Zer0 since he's known for hunting and shooting wild game with a sniper rifle.